SOLUTION: If an investment company pays 6% compounded semiannually, how much should you deposit now to have $10,000 5 years from now? $7,440.94

Algebra ->  Finance -> SOLUTION: If an investment company pays 6% compounded semiannually, how much should you deposit now to have $10,000 5 years from now? $7,440.94       Log On


   

Question 1187616: If an investment company pays 6% compounded semiannually, how much should you deposit
now to have $10,000 5 years from now? $7,440.94
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
that is correct, rounded to the nearest penny.
the more detailed answer is 7440.939149.
did you need to know how it was derived?